# Dollar falls, short yen trades squared ahead of BOJ and Fed meetings | Reuters

> The dollar fell to its lowest in over two months against the yen on Wednesday as short-yen carry trades were unwound ahead of the BOJ meeting. Investors expected the BOJ to debate a rate hike and a plan to halve bond purchases. Few expected the Fed to begin cutting rates that month, though its messaging for a September pivot was expected to strengthen.

- Date: 2024-07-24 · published 2024-07-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/29461-dollar-falls-short-yen-trades-squared-ahead-of-boj-and-fed-meetings-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Currency moves ahead of central bank meetings drive short-term dollar and yen swings that affect dollar-priced commodity competitiveness. The impact on feed prices is modest.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-21 | [Dollar, Sterling Fall Ahead Of Fed, BoE Meetings Amid Banking Stress](https://feedsoft.ai/events/37061-dollar-sterling-fall-ahead-of-fed-boe-meetings-amid-banking-stress.md) | -0.6% | -1.4% |
| DXY | 2020-06-09 | [Dollar wallows ahead of Fed meeting, yen resilient - Business & Finance - Business Recorder](https://feedsoft.ai/events/52852-dollar-wallows-ahead-of-fed-meeting-yen-resilient-business-and-finance-business.md) | +1.1% | +0.8% |
| DXY | 2025-11-25 | [US dollar slumps as data backs Fed rate cut view; traders on yen alert \| Reuters](https://feedsoft.ai/events/21876-us-dollar-slumps-as-data-backs-fed-rate-cut-view-traders-on-yen-alert-reuters.md) | -0.6% | -1.8% |
| DXY | 2020-06-11 | [Baht strengthens as dollar falls after Fed meeting](https://feedsoft.ai/events/52893-baht-strengthens-as-dollar-falls-after-fed-meeting.md) | +1.2% | +0.8% |
| DXY | 2026-10-26 | [China’s yuan climbs to fresh 4-year high ahead of key policy meetings By Reuters](https://feedsoft.ai/events/17257-china-s-yuan-climbs-to-fresh-4-year-high-ahead-of-key-policy-meetings-by-reuters.md) | +0.3% | — |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-firms-commodities-slide-carry-unwinds-2024-07-24/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.